simple and interesting read, NY Times columnist Thomas Friedman is fond of using simple metaphors for large concepts, The Lexus symbolizes technology, commerce, and globalization while the Olive Tree symbolizes tradition, He discusses the relationship and tension between the two,
Friedman takes a pretty positive view of globalization, if for no other reason than its inevitability, He claims that trying to stop globalization is like trying to "stop the sun from rising, " He asserts that it would be more beneficial to work within the system to protect workers' rights than resorting to the type of property destruction that occurred in Seattle during the WTO protests.
Although it's been aroundyears since I've read the book, a few of his ideas stick with me, One idea that sticks with me is that of the superempowered individual, Friedman says that the accessibility of technology has empowered individuals like never before, He gives as a positive example a woman who started an email campaign to raise awareness and protest a corporation's the Gap, if I remember correctly use of sweatshop labor.
The campaign successfully shamed the company into changing its ways, The negative example he gives as a superempowered individual is Osama bin Laden, Given the fact that inwhen Friedman wrote the book, bin Laden had already issued his fatwa against the US, Friedman's observation isn't exactly prescient but is nevertheless an astute observation.
I didn't like this book at all, . . infact one of those rare books that I decided to leave without finishing,
The biggest problem with the book is the condescending tone of the author rather than treating his readers as mature well informed adults, he writes as if his reader base is made up of school going kids.
The analogies that he uses insults the intelligence of his readers,
There is too much name dropping, like Manmohan Singh said this to me, or the Shah of Iran told me that Friedman seems to like thinking that all the world leaders are cozy with him and confiding their innermost thoughts to him, rather than them granting him interviews, one of the many reporters that they would be granting interviews to.
The other thing that put me off is Friedman's rabid free market support I had expected this book to a balanced and objective analysis of globalization and its impact, but it reads like propaganda for open market capitalization.
All closed market economies and their administrators are projected as idiots and no honest intent has been shown to understand how globalization is impacting the less developed economies and why they are hesitant to open up.
This looked like a one sided point of view and I did not enjoy it at all, This book does incredibly well in explaining the complicated topic of globalization, It's very readable but is not dumbeddown in any manner, Mr. Friedman tries hard to be objective with his views of the world, Although on some chapters, you can tell that he belongs to the optimistic group of the globalization debate, Whether or not you agree with his perspective, it still is worthwhile to read to see if his pronouncements will at least challenge your own position, This book by Thomas Friedman is about globalization and how it affects us, Basically, Friedman believes that Globalization, in sum total, is good for the world, notwithstanding its negative effects,
Friedman's primary thesis is that the cold war politics conditioned the behavior of nation states till, Now, it is 'Globalization' and its inexorable movement forward that shapes nations and their behavior internally as well as one another, Friedman introduces the term 'the Electronic herd' in explaining his theories, The Electronic Herd has two parts to it the Short horn and the Long horn, The Short horn refers to currency traders mutual, pension and hedge funds insurance companies or bank trading rooms, They are known as shorthorn cattle because they move money around the world, often on a very shortterm basis, Longhorn cattle represents the large multinational corporations e, g. General Electric, General Motors, IBM, Intel, Siemens etc, which increasingly invest in or move production to foreign countries, They are known as longhorn cattle because they have to make long term commitments when investing, It is important for nation states to keep the Herd satisfied through transparency, responsible fiscal behavior and legitimate practices as otherwise they will take their money away from you and invest it where these features are represented better.
The degrees of freedom for adventurism of nation states are reduced because their economy would be in difficulties if the Herd gives them a bad rating due to irresponsible policies.
Friedman cites examples from the SouthEast Asian financial crisis of the lates, Also, the Herd frowns against war and its dislocating effects, So, Friedman believes that Globalization has been good in reducing violent conflicts around the world, Only countries which do not plug into Globalization have the freedom to amke conflict and reap its consequences, he cites examples of N, Korea, Iraq, Iran, Afghanistan etc,
Friedman is not naive, He realizes that Globalization has its bad effects on good things in traditional societies, His Lexua is an euphemism for Globalization and the 'Olive tree' for tradition, He discusses the challenges posed by Globalization to valuable traditions and the importance of old cultures in keeping to them on the face of the onslaught from Globalization, He also devotes many chapters on the unique role the US can play to harness it all,
Overall, the argument is compelling and wellreasoned, People who are deadly opposed to Globalization would trash many of his arguments, But, as one coming from India and living in the US, I can relate to the arguments in the book and find validity in them,
The book is wellwritten and it is an easy read, just like his other books on the subject, I would recommend the book strongly for one interested in the subject, For reasons I cannot understand, this book is treated as canonical in high school economics classrooms across the country, Friedman presents an argument that is not only exceedingly
hypocritical but asserted almost entirely through a jungle of personal anecdotes, The Lexus and the Olive Tree is not so much an explanation of globalization as it is a laundry list of interesting people that Friedman knows and you do not.
Methodology aside, the arguments Friedman makes are more often than not deeply flawed, Many of the ideas Friedman babbles about are considered debatable the "Electronic Herd" at best, or flatout absurd the "Golden Straitjacket" at worst, This "straitjacket" is the focal point of his argument, and it takes him a few hundred pages to get around to the crux of it, To summarize: Having spoken toorof his friends, Friedman declares that economic growth, specifically in emerging markets, demands a paring down of any form of social safety net, open arms to foreign investment, and a deregulatory fiscal policy on the part of the government in question.
Friedman disregards the fact that heavily subsidized agricultural exports from the United States, for example, undercut domestic prices in many of these emerging markets and bankrupt local agricultural industries.
The United States' own tariffs and quotas were what allowed U, S. industry and agriculture to flourish in the first place, but presentday emerging markets are somehow expected to open their borders and allow their markets to be flooded with developmentstifling imports from first world economies and subsidy driven low prices.
All of this aside, perhaps the most grating element of The Lexus and the Olive Tree is Friedman's penchant for creating ridiculous names for existing and welldefined economic and political phenomena.
The Golden Arches Theory of Conflict Prevention stands in as the fat sister of Democratic Peace Theory Heard of Israel and Lebanon, Thomas Give Russia and Georgia a few more months, perhaps.
. DOScapital a witticism perhaps overheard in a middleschool remedial English program is a ridiculous way of describing what most have deemed the global economy i, e. capitalism. The Electronic Herd Capitol investors, Microchip Immune Deficiency Insufficient decentralization and technophobia, In summation, The Lexus and the Olive Tree attempts to explain the nature and processes of globalization by combining a long list of people with whom Thomas Friedman has had lunch, kitschy jargon, five or six thousand poorlychosen metaphors, a smattering of jingoism, a dedication to the unregulated free market that would make Lady Thatcher blush, and no formal education in economics whatsoever.
It's good for a laugh, I suppose, .